With the metaverse coming up as the next big thing in tech, attracting huge capitals from gaming platforms, social networks, and crypto and NFT enthusiasts, the need to develop and grow in the space becomes imperative for organizations. A Bloomberg report estimated the size of the metaverse market to be over $800 billion, which opens a plethora of opportunities for firms to prosper in the sector.
Jumping on the metaverse bandwagon, KardiaChain, the first decentralized interoperable and self-optimized blockchain infrastructure, recently laid down its roadmap for the year 2022 to further enable growth and development, especially in the metaverse.
On the road to success
KardiaChain (KAI) is a blockchain platform that aims to be fully interoperable and ‘non-invasive,’ meaning that blockchains can join the network without modifying their own protocols. The blockchain has a dual-node topology that allows it to link to other blockchains, as well as sharding for scalability and smart contracts for developers.
After their DeFi Summer, and dedicating the last year to launch and stabilize products while expanding a diverse ecosystem, they are now eyeing user base growth and scalability in 2022. The KardiaChain team aims to focus on platform development and ecosystem growth, as the company’s gaming and metaverse entity Whydah takes charge of pushing user growth in that sector.
What’s in store for the future?
Integrating Web3 to all KAI ecosystem products with the aim of building a strong foundation for the metaverse space tops Kardia’s to-do list for this year. Meanwhile, with Galaxias Mainnet 2.0 providing enhanced compatibility, KardiaChain continues to support integration amongst Web3 wallets such as Metamask, WalletConnect, and TrustWallet, among others.
Further, the organization plans to begin work on the cross-chain NFT marketplace that will support multichain trading and integration of NFTs across all protocols built on the KRC20 chain. The same could also aid interoperability and garner an increased customer base for the organization.
Additionally, KardiaChain aims to add cross-chain NFT bridge support, allowing NFTs to move across blockchains and networks with near-zero gas fees. The same would help GameFi projects to seamlessly migrate to the KardiaChain network while also serving as the foundation for all NFT marketplaces associated with the chain. This would further aid multichain support while pushing interoperability.
KardiaChain also aims to build a native protocol that supports and connects off-chain oracle services promoting reliable inbound real-time information. Thus, faster off-chain transactions could give users a fully automated and convenient DeFi experience with the KAI network in the future. Finally, the organization plans to provide a full metaverse experience that would start with (but not be limited to) sporting activities and digital fashion in the metaverse.
Interestingly, with developments such as the first-ever marathon in the metaverse hosted by Raramuri taking place on June 1 this year, the importance of expanding in the various sub-verses of the metaverse becomes crucial.
Meta-mania to rule 2022
Looking at the massive growth of the newly emerged metaverse sector that is expected to grow at 41.7% CAGR till 2030, the idea of actively developing in the market looks rational. In fact, by addressing crucial issues pertaining to operability and cross-chain bridging for NFTs, Kardia could bring in a huge crowd to the already booming space.
All in all, with the metaverse mania taking over the market Kardia’s strategic move to develop and grow in the space could aid the chain’s long-term growth.
That said, with the Metaverse space growing at a dramatic speed, one thing can is almost certain — metaverse is here to stay. Interestingly, media giants like Facebook, Twitter, and even YouTube have revealed plans to cater to crypto and NFT enthusiasts by exploring the NFT and metaverse space.
With interest pouring into the sector and the space growing rapidly, it comes as no surprise that the metaverse sector is a $1 Trillion revenue opportunity that could open the doors for a plethora of creators, users, consumers, and businesses in the months and years to come.